Emerald Finance Limited has entered into a strategic partnership with Thelexicon Educational Society to launch its Early-Wage-Access program for the society's employees. The collaboration aims to enable employees to access salary advances seamlessly throughout the month.

Partnership Details

The partnership involves Thelexicon Educational Society, located at Landra Road SAS Nagar Mohali Punjab-140301, which will now offer Emerald Finance's Early-Wage-Access program to its workforce. This initiative represents a significant step in the company's strategy to expand its retail customer base and diversify its financial service offerings.

Program Features and Benefits

The Early-Wage-Access program is designed to provide instant financial relief to employees by enabling them to access portions of their salaries seamlessly throughout the month. This solution addresses the immediate financial needs of workers without requiring them to wait for their monthly payday.

Key aspects of the program include:

• Instant access to earned wages before the regular payday
• Seamless integration with existing payroll systems
• Short-term loan structure as salary advances
• Repayment through automatic salary deductions

Strategic Business Expansion

This partnership aligns with Emerald Finance Limited's broader vision to expand its service offerings and serve retail customers at a larger scale. The company has been actively developing salary advance solutions as part of its growth strategy, focusing on creating partnerships with employers to facilitate short-term lending.

The salary advance product operates through a systematic approach where the company ties up with employers to offer financial assistance to their workforce. The lending amount is subsequently recovered through salary deductions, ensuring a structured repayment mechanism that benefits both the employees and the financial service provider.

Regulatory Compliance

The partnership announcement was made in compliance with regulatory requirements, specifically under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This disclosure ensures transparency and keeps stakeholders informed about significant business developments and strategic partnerships.

Emerald Finance Limited has announced strategic partnerships to expand its innovative Early-Wage-Access program. The company has partnered with TRIMAX Datacentre Services Limited, E3 Polymerse Industries Pvt Ltd, Delhi, and Ebix Money Express Pvt. Ltd. to introduce and enhance this employee-friendly financial solution.

Key Features of the Partnerships

• Early-Wage-Access Program: Employees can access a portion of their earned salaries throughout the month, providing greater financial flexibility.
• Short-Term Loan Facility: The program offers short-term loans to employees, repaid through salary deductions.
• Seamless Integration: The partnerships aim to provide instant financial relief to employees by allowing easy access to their earned wages.

Strategic Implications

These partnerships align with Emerald Finance's vision to broaden its product portfolio and serve a wider retail customer base. By venturing into the salary advance solution space, the company is positioning itself in the innovative fintech offerings sector.

Disclosure and Compliance

In accordance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, Emerald Finance Limited has officially disclosed these partnerships to the BSE Limited. The disclosure was signed by Amarjeet Kaur, the Company Secretary cum Compliance Officer.

Benefits for Employees

These Early-Wage-Access programs represent a growing trend in the fintech industry, where companies are looking to provide more flexible and employee-friendly financial solutions. By partnering with multiple companies, Emerald Finance is expanding its reach and offering these benefits to a broader range of employees across different sectors.